Kuwait oil retreats $0.75 per barrel Friday

 

Kuwait – Mubasher: The price per barrel of Kuwaiti oil was down $0.75 on Friday to $38.71 from $39.46 per barrel by the end of Thursday's trades, reported Kuwait News Agency (KUNA), citing data from the Kuwait Petroleum Corporation (KPC).

Mixed Brent added 36 cents and closed at $45.37 per barrel, while US crude grew 53 cents, closing at $44.66 per barrel.

Gains in US oil were boosted by a weakening dollar and Canadian forest fires, which trimmed production oil sands by as much as a third, according to Emirates News Agency (WAM).

Despite seeing a rise on Friday, oil prices are expected to see their first weekly loss in 5 weeks.

Mubasher Contribution Time: 07-May-2016 09:19 (GMT)
Mubasher Last Update Time: 07-May-2016 09:19 (GMT)